5 Tips for Building a Business Case for Incentives and Events

3 October 2017

For sales leaders working with experienced partners to deliver inspired incentives and events, the most challenging part of the process is often getting things off the ground.

Despite the stats – 2016 spend on non-cash incentives in the US was up 17% on 2013 – recent years have seen many organisations keeping a tight rein on budgets. And it’s the increasing need to get more for less and to drive results that makes incentives and events more important than ever.

Talk to Us About Your Events and Incentives Now

Incentives and events can boost bottom lines, lift morale across flagging teams, celebrate wins and revolutionise engagement with key objectives – and everyone benefits, from frontline teams to directors and stakeholders.

The key is communicating that immense potential for value delivery effectively to key decision makers. Here are our top tips on building a business case for your events and incentives…

1. Starting Out: Let Business Objectives Drive Your Case

Effective incentives and events need to be built around key business objectives: lead generation, celebrating and inspiring big wins, improving relationships with key clients, lighting a fire under bottom lines.

Ensure that you understand how your incentives and events relate to key business objectives – and make the results you’ll drive the foundation of your case.

2. Broaden Your Base: Understand Objectives in Context

You need to understand your objectives in the context of your organisation. It’s particularly helpful to understand them in the context of key decision makers’ objectives.

Understand the pressures they are under, the results that they are being judged on, and how your objectives can feed into positive ROI for them, as well as for you.

Equally, remember to consider your attendees or guests, and how their objectives can be leveraged to drive the results you and your organisation need.

3. Manage Objections: Money Talks

Budget can be the primary sticking point when it comes to getting sign off for your incentives and events – so get a handle on the numbers asap.

Understanding your objectives in the wider context of your organisation will give you a framework for this, providing your business case with structure and a framework for key metrics, ROI reporting, and criteria for choosing locations, suppliers and partners.

4. Building Incentives and Events: Choose Your Suppliers or Partners

Planning incentives and events takes time, expertise and a thorough understanding of both your business objectives and the incentives and events landscape.

Inconnection creates inspired incentives and game-changing events for some of the world’s biggest, brightest and best sales organisations. Our buying power and up-to-the-minute knowledge of the world’s best destinations, venues, hotels and suppliers means that we deliver world-class experiences on time, on budget and on brief.

5. Incentives and Events Reporting: Results Do the Talking

ROI is all that matters to directors and stakeholders when it comes to incentive and events. This is where building your event around defined business objectives gives you a clear framework for your key metrics – from tracking direct sales lift or lead generation, to demonstrating the link between staff morale and engagement with improved conversion rates, your decision makers will need to see definite, measured ROI.

Follow up on those numbers, communicate your incentive or event’s value, and every successful incentive or event will strengthen your next event’s case.

If you clearly, concisely demonstrate that your incentives and events deliver – project an accurate budget, work with an incentives and events partner who can deliver the exceptional, and create an ROI report proving real value, then you’ve got a very convincing business case for your incentives and events.

Talk to Us About Your Events and Incentives Now

We would love to talk to about how we can help create incentives and events that deliver real results. We look forward to hearing from you!